Denver-based Vantage Data Centers said it has raised €640 million in securitized term notes, marking the first-ever euro-based securitization of data center assets in Continental Europe. The transaction includes an additional €80 million in unfunded variable funding notes.
With an anticipated five-year repayment period, the notes will be used to refinance four data centers in Germany: two in Frankfurt and two in Berlin, all fully leased to hyperscale customers. Surplus funds will be allocated toward capital expenditures and broader corporate initiatives.
“The issuance of the first euro-denominated ABS in the data center sector marks a significant milestone in digital infrastructure financing,” said Rich Cosgray, SVP, global capital markets for Vantage Data Centers. “Having previously issued the first data center ABS in both North America and EMEA (sterling-denominated), Vantage continues to showcase our innovative approach to capital markets and our ability to unlock new funding vehicles to fuel our global expansion.”
Vantage was represented by Clifford Chance LLP, and the transaction was led by Barclays and Deutsche Bank as active joint lead managers. It was supported by ING and Natixis as joint lead managers and ABN Amro, Banco De Sabadell, SMBC and Societe Generale as co-managers.
Pictured: A Vantage data center campus in Berlin.
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